- Bitcoin’s price dropped to approximately $100,600, while ether fell to about $3,200 amid ongoing market losses.
- The broader crypto market has experienced an 18% decline in Bitcoin over the past 30 days, with major token indexes down around 3% in the last 24 hours.
- Derivatives data indicate cautious positioning with falling futures open interest and mixed but bullish options signals.
- Altcoins mostly underperformed, except for AI-focused tokens such as FET and NEAR, which showed notable gains.
- The $100,000 Bitcoin Price level now has strong support due to significant liquidation walls, indicating firm market defense.
The cryptocurrency market continued its downward trend on Friday, with bitcoin dropping to roughly $100,600 and ether falling to near $3,200. These declines followed a challenging week influenced by Federal Reserve comments, which hinted at a slowdown in rate cuts, strengthening the U.S. dollar and hurting risk assets.
Bitcoin has lost about 18% of its value over the past month, while major indices like the CoinDesk 5 Index (CD5) and the CoinDesk 20 Index (CD20) fell roughly 3% over the last 24 hours. The altcoin market faced deeper losses, aside from tokens linked to Artificial Intelligence, as the “altcoin season” index hit its lowest reading in over 90 days at 22/100.
Futures data shows caution among traders with open interest (OI) declining steadily to $24.9 billion from $26 billion the previous week, indicating reduced leverage. The annualized three-month basis remains low between 3% and 4%, while funding rates across major exchanges are below 10%, reflecting low profitability and limited directional conviction. Conversely, options activity reveals a bullish skew, with the 24-hour put/call volume at 64% calls versus 35% puts and a one-week 25-delta skew at 10%, suggesting traders prefer upside exposure despite short-term volatility.
Bitcoin’s recent price drop resulted in approximately $600 million in liquidations within 24 hours, with longs suffering 65% of the losses. The $100,000 bitcoin price point is now supported by multiple sizable long liquidation walls, each around $30 million, potentially making it a strong defense level going forward.
Among altcoins, some tokens like XRP and ether declined by about 5% and 3.5%, respectively. These assets are nearing important support levels last seen on November 4, and breaking below may signal further downside. The average relative strength index (RSI) for altcoins stands near 49.5, indicating a neutral market that is unlikely to rebound soon.
Despite broad weakness, the AI sector within altcoins is bucking the trend. Tokens such as FET and NEAR climbed 23% and 22%, respectively, with trading volumes suggesting significant retail participation on platforms like Binance and KuCoin.
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